Update on funding and preliminary results
Source: RNS
Allergy Therapeutics plc
("Allergy Therapeutics", the "Group" or "Company")
Update on funding and preliminary results
01 October 2024 Allergy Therapeutics plc (AIM: AGY), the integrated commercial biotechnology company specialising in allergy vaccines, today announces an update on the Group's working capital position.
Following tight cost control initiatives and changes to the phasing of R&D expenditure, the Group has successfully extended its cash runway into late-October.
There remains a further £12.5m of uncommitted funding available under the Amended Loan Facility and the Company is at an advanced stage on further debt funding to support its ongoing operations and development pipeline.
Preparation of Allergy Therapeutics' preliminary financial results for the year ended 30 June 2024 is well underway and the Group now expects to publish its report by the end of October.
ENDS
Allergy Therapeutics
Manuel Llobet, Chief Executive Officer
Shaun Furlong, Chief Financial Officer
+44 (0)1903 845 820
Cavendish Capital Markets Limited (Nominated Adviser and Broker)
Geoff Nash / Seamus Fricker / Rory Sale
Tamar Cranford Smith - Sales
Nigel Birks - Life Science Specialist Sales
+44 (0)20 7220 0500
ICR Consilium
Mary-Jane Elliott / David Daley / Davide Salvi
+44 (0)20 3709 5700
allergytherapeutics@consilium-comms.com
About Allergy Therapeutics
Allergy Therapeutics is an international commercial biotechnology company, headquartered in the UK, focussed on the treatment and diagnosis of allergic disorders, including aluminium free immunotherapy vaccines that have the potential to cure disease. The Group sells proprietary and third-party products from its subsidiaries in nine major European countries and via distribution agreements in an additional ten countries. Its broad pipeline of products in clinical development includes vaccines for grass, tree, house dust mite and peanut. For more information, please see www.allergytherapeutics.com.
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